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Unformatted text preview: $ 10 $ 11 Vacation Days Used by Each Employee 9 Sick Days Used by Each Employee 4 5 Matt Broderick Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned. Requirements: Prepare journal entries to record transactions related to compensated absences during 2006 and 2007. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2006 and 2007. Answer:...
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- Summer '08
- 1920, Matt Broderick Company